WHAT’S HAPPENING TODAY: Good afternoon and happy Tuesday, Daily on Energy readers! We hope you had a restful Memorial Day weekend, hopefully with better weather than in Washington, D.C. Callie is at the helm of the newsletter this week, as Maydeen is taking a much-deserved break traveling through Italy! 🍝🇮🇹☀️ Be sure to spare her inbox while she’s gone. 

The big question on everyone’s mind is: how close are we to seeing a ceasefire deal between the U.S. and Iran? 🇺🇲🇮🇷 Traders have been confused, with international crude prices jumping while domestic prices fell today. We have more details below. 

Meanwhile, there was a major shakeup at BP earlier this morning, as the British oil major voted to oust its board chairman and director. 🛢️🇬🇧 Keep reading to find out what we know so far. 

Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up, click here. If signing up doesn’t work, shoot us an email, and we’ll add you to our list.

OIL TRADERS ON EDGE AS PEACE TALKS REMAIN STRAINED: President Donald Trump hinted that the United States was close to inking a peace deal with Iran over the weekend, but tensions rose again today as U.S. officials confirmed strikes in southern Iran. 

The mixed messaging has added upward pressure on international oil prices, with Brent crude rising by 3.5% just before 3:30 p.m. EDT today, selling above $99.50 a barrel. 

Capt. Tim Hawkins, a spokesman for U.S. Central Command, told the Washington Examiner that the strikes were launched in self-defense to “protect our troops from threats posed by Iranian forces.” 

The U.S. specifically targeted missile launch sites and Iranian boats that were allegedly attempting to place mines. 

While Iran vowed to retaliate, the escalation hasn’t completely scared off traders just yet, as negotiations continue.

Trump will be convening his cabinet at Camp David tomorrow to discuss the negotiations as well as the economy and the administration’s fraud task force, a source familiar confirmed to the Washington Examiner.

Traders of U.S. oil appear far more hopeful that a deal is on the horizon, as prices for West Texas Intermediate fell by 2.80% around 3:30 p.m., selling just under $94 a barrel. 

TRUMP EXPANDS HUNTING AND FISHING ACCESS ON PUBLIC LANDS: The Department of the Interior moved today to expand hunting and fishing access across federal lands in more than 30 states. 

The details: Today’s actions mark the largest proposed expansion of hunting and fishing opportunities in the agency’s history, as Interior has proposed opening or expanding more than 1,450 opportunities. These stretch across 111 stations in 32 states, including 107 national wildlife refuges and four national fish hatcheries. 

If finalized, the expansion would make more than 92 million acres available for hunting and fishing, more than 95% of the National Wildlife Refuge System. 

Interior is also revising or deleting more than 500 provisions in its federal regulatory process. Additionally, the National Park Service is removing what it has described as “unnecessary hunting-related closures and restrictions” where hunting is permitted by the law. 

The proposal will be subject to a 30-day public comment period after it is published in the Federal Register. 

“America’s public lands belong to the American people, and they should be able to access them without unnecessary bureaucracy standing in the way,” Interior Secretary Doug Burgum said in a statement.

BP OUSTS CHAIRMAN: Earlier today, British oil major BP said its board voted unanimously to remove chairman and director Albert Manifold over “serious concerns” about his conduct. 

Amanda Blanc, senior independent director at BP, said in a statement that the company “has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action.”

Manifold was appointed to the position less than a year ago, and was expected to help pivot BP back toward oil and gas production following significant backlash from shareholders over the major’s renewable energy spending. 

Read more from the Examiner’s Claire Carter here. 

OKLO IN ADVANCED TALKS FOR ENERGY DEPARTMENT PLUTONIUM PROGRAM: The advanced nuclear developer Oklo said today that it has been selected by the Department of Energy for advanced negotiations for the Surplus Plutonium Utilization Program, which is meant to supply weapons-grade plutonium from Cold War-era armaments to private-sector nuclear power developers. 

“This program creates a pathway to use existing surplus material as bridge fuel for advanced reactors to bring more reactors online sooner,” CEO Jacob DeWitte said in a statement. “Material that has been set aside for disposal can instead be converted into fuel to produce electricity through fission.”

Oklo said it would partner with European advanced nuclear company Newcleo to process the plutonium. 

Oklo said four other firms were selected for the advanced negotiations, but not which ones. 

WHAT OTHER OFFSHORE WIND PROJECTS ARE ON THE CHOPPING BLOCK? Earlier this spring, the Trump administration successfully killed multiple offshore wind projects being developed along the East and West coasts, paying the developers to abandon the projects entirely. 

If you forgot, the two most recent projects were killed in April, when Interior announced it had struck agreements with Bluepoint Wind and Golden State Wind to end the projects’ offshore wind leases in exchange for a “dollar-for-dollar reimbursement” for what they paid when they secured the leases under the Biden administration. 

You can read more about those deals here. 

A new report from E&E News reveals that there are more than 25 offshore wind leases potentially next on the chopping block, as they lack crucial federal permits to begin constructions. 

Industry sources told the outlet that some of the leases in question are off the coasts of the Carolinas, New York, New Jersey, and California. 

This includes: 

• RWE’s and National Grid’s 3.3 gigawatt Community Offshore Wind Project 
• Invenergy’s 2 gigawatt Leading Light Wind project 
• EDF Renewables' and Shell New Energies’ joint 1.5 gigawatt Atlantic Shores Offshore Wind project
• RWE’s 1.6 gigawatt Canopy Offshore Wind project 
• Invenergy’s 2 gigawatt Even Keel Wind project 
• Equinor’s 2 gigawatt Atlas Wind project
• Cinergy’s 1.6 gigawatt offshore wind projects off North Carolina

ICYMI – TRUMP APPROVES AID FOR ORANGE COUNTY CHEMICAL DISASTER: Trump signed an emergency declaration to help respond to a threatened major chemical spill in Orange County, California, Gov. Gavin Newsom said yesterday. 

The declaration will allow FEMA officials to help the more than 700 state and local first responders who are working to stabilize the tank at GKN Aerospace that contains about 6,000 to 7,000 gallons of methyl methacrylate, a hazardous chemical. 

The tank had overheated, raising fears it could send chemicals into the atmosphere or explode. As of yesterday, the situation had improved to the extent that officials ruled out the possibility of a catastrophic explosion, because a crack in the tank had allowed pressure to fall. Still, tens of thousands of nearby residents remained under an evacuation order.  

A LOOK AHEAD

May 25 was Memorial Day.

May 27 The Brookings Institution’s Energy Security Roundtable will be held in Washington, D.C. 

May 27 The Society of Petroleum Engineers and the U.S. Association for Energy Economics are holding a joint briefing on energy security and the influence of geopolitical fractures.

May 28 The Federalist Society is holding a webinar titled, “Commandeering for Conservation?” 

May 28 America’s Future annual gala and award showcase will take place in Washington, D.C. 

May 28 – 29 The 2026 Community and Distributed Energy Summit is being held in Washington, D.C. 

May 30 The Piedmont Environmental Council is holding its annual meeting in Fauquier County, Virginia. 

RUNDOWN 

E&E News Climate change alarms are flashing. Washington isn’t paying attention.

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